(1888PressRelease)
October 16, 2007 - Bangalore, India - By Brickwork India- Global Portfolio Investment: The Easy Way to International land investing.
Individual investors are now able to buy a stock in another country via an electronic exchange. However, the international real estate market—more specifically, the market for raw land—has been almost out of bounds for most investors, faced as they are with a load of complicated regulations and the ever present risk of fraud. The few individuals who do invest in foreign property today are buying luxury homes and condos in the $300,000 to $5 million dollar range. While these investments are large, they are nevertheless rare and require the assistance of high-end agents such as Sotheby’s for guidance through foreign legalities and red tape.
Loring Coldwell Banker is the first company to create safe and affordable lot investments starting at about $13,000 USD for individuals through a cash investment or an IRA. The enterprise has till date sold about $3 million dollars of these investments in its first 18 months of business in Costa Rica. Seeing an extensive and open market for individuals to buy investment land in foreign countries in the $13,000 + price range, the company began working in 2002 on how investors could buy rights to the property without having to travel outside of their country.
As the primary roadblocks for individuals were the bottleneck of regulations and the risk of fraud, Loring Coldwell Banker decided first to address these concerns. The company enlisted professionals who lived and worked in the concerned foreign country, and who knew the details of local real estate laws and clear title.
In 2005, the firm submitted its legal work to US trust companies and now its TIC (Tenant in Common) investment is approved as an IRA holding for self-directed IRAs in all 50 states.
Loring Coldwell Banker plans to add more lots in Costa Rica and Canada while moving into Panama and India in 2008.
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